The cost of a holiday is £2400. Rana pays a deposit followed by monthly payments, in the ratio deposit:total of the monthly payments=3:5 she makes 6 equal monthly payments. Work out her monthly payment

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Answer:

Monthly installments = £250

Step-by-step explanation:

Given

Total cost of holiday = £2400

Ratio deposit : total of the monthly payments=3:5

Total deposit made = [tex]\frac{3}{3+5} * 2400 = 900[/tex]

Total amount of the monthly payments = 2400 -900 = 1500

She pays six equal installments.

Amount of installments = 1500/6 = 250

Monthly installments = £250

Using proportions, it is found that her monthly payments are of £250.

  • The deposit is of x.
  • The total of monthly payments the remainder, that is, 2400 - x.

According to the ratio, we have that:

[tex]\frac{x}{2400 - x} = \frac{3}{5}[/tex]

Applying cross multiplication:

[tex]5x = 3(2400 - x)[/tex]

[tex]8x = 7200[/tex]

[tex]x = \frac{7200}{8}[/tex]

[tex]x = 900[/tex]

Hence, the monthly payments add to £1500.

She makes 6 equal monthly payments, hence:

[tex]p = \frac{1500}{6} = 250[/tex]

Her monthly payments are of £250.

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